New Technology Eases Real Estate Deed Prep Work.Business Editors & Legal Writers LAS VEGAS--(BUSINESS WIRE)--June 27, 2001 Title companies, lenders and lawyers can significantly reduce staff time and increase productivity by using a new online service to easily prepare out-of-state deeds and other real estate documents. TitleRight(TM), a new Web-based application from North American Deed Company, enables a user to feed data to the Web site and quickly produce a legal document. Users have access to the filing, formatting and fee requirements of all 4,000 plus recording jurisdictions in the United States. "Currently deeds are prepared through a title company or attorney," said Aaron Romano, CEO of North American Deed. "Companies or individuals who outsource document preparation can speed up the process by more than 45 percent with TitleRight(TM) because it allows them to literally `dump' data into its system to quickly create a deed or other related document." Currently in the beta-testing stage, TitleRight(TM) is predicted to be 50 percent less expensive than preparing the same documents through traditional means because it essentially cuts out the middleman. "Using TitleRight will cut down on the time needed for signing documents and for tracking documents sent for recording, and will allow multiple users to access the application without installing software," Romano said. "Companies will also save money because they won't have to hire and train additional staff -- it's like having a document specialist on staff who knows how to prepare and record documents in all 50 states." Sandy Yamashiro from the law offices of Robert L. Bolick LTD has been testing TitleRight for several weeks. "It used to take me more than 20 minutes to prepare a deed using my word processor," Yamashiro said. "With TitleRight(TM) I can prepare a deed in minutes online, knowing that it will automatically be in the correct format for the state and county I need it for." TitleRight(TM) also helps companies track other documents online, even if they are not originally created through the Web site. Examples of documents that can be prepared using TitleRight include Grant Deeds grant deed n. the document which transfers title to real property or a real property interest from one party (grantor) to another (grantee). It must describe the property by legal description of boundaries and/or parcel numbers, be signed by all people transferring the property, and be acknowledged before a notary public. The transfer is finalized by recording with the County Recorder or Recorder of Deeds., Warranty Deeds warranty deed n. a deed to real property which guarantees that the seller owns clear title which can be transferred (conveyed). A "grant deed" generally is a warranty deed, while a "quit claim deed" is not. (See: warrant, grant deed), Quitclaim quitclaim: see deed. Deeds, Affidavit Terminating Joint Tenancy joint tenancy n. a crucial relationship in the ownership of real property, which provides that each party owns an undivided interest in the entire parcel, with both having the right to use all of it and the right of survivorship, which means that upon the death of one joint tenant, the other has title to it all., Certificate of Incumbency, Deeds of Trust, Satisfaction of Mortgage and many others. North American Deed Company, based in Las Vegas, provides a service that guarantees a document will be prepared and successfully recorded the first time. For more information, visit www.nadeed.com and use the username "media" and the password "beta1" or call 888-715-6400. |
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